Cary Street Partners Financial LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Cary Street Partners Financial LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,697 shares of the company’s stock, valued at approximately $809,000.

A number of other institutional investors have also recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA grew its holdings in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after acquiring an additional 111 shares in the last quarter. Westover Capital Advisors LLC lifted its holdings in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after acquiring an additional 130 shares during the last quarter. Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its stake in Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after buying an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in shares of Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock worth $931,000 after acquiring an additional 142 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $119.32 on Friday. The stock has a market capitalization of $279.85 billion, a price-to-earnings ratio of 628.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company has a 50-day moving average of $93.57 and a two-hundred day moving average of $81.48. Palantir Technologies Inc. has a 52-week low of $20.50 and a 52-week high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLTR. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $83.95.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,978,181 shares of company stock worth $252,115,667 in the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.